As a Certified Home Luxury Marketing Specialist for the DC Metropolitan area, I often receive questions about timing the market for the best possible price. For example, some luxury homeowners in Bethesda, Chevy Chase and Silver Spring are holding off on their home sale, in the belief that median home prices will be higher in 2013.
Conversely, another segment of luxury homeowners were motivated to sell during 2012, out of concerns about a possible “fiscal cliff” and uncertainties about future capital gains tax rates. To them, today’s dollar was worth more than tomorrow’s promise.
While it’s true that spring and early summer are the peak seasons for DC Metro area real estate, there is no crystal ball when it comes to market timing. Real estate is a 7-day a week, year-around business. The autumn and winter seasons can hold a great deal of activity, particularly among motivated home buyers and sellers. You don’t see as many tire-kickers in November as you do during open houses in May.
A statistic that gives insight to price strength is the ratio of sold-to-list. For example, during September 2012, Montgomery County saw an average home sale price of $460,654, which is up 5.48% from a year ago. Sellers received, on average, 95.29% of their asking price, which is an improvement of 1.53% from a year ago. Some luxury homes in the Washington DC metro area have performed better than this average.
Selling your DC Metro home is not a matter of timing; it’s a matter of proper planning. Factors such as location, condition and amenities count strongly in today’s market. Broader issues, such as the economy and national housing policy are also considerations, but as a home seller there is only so much you can control. There are excellent opportunities for both home buyers and home sellers in Bethesda, Chevy Chase and Silver Spring!
The best way to determine when to put your Bethesda home on the market is to contact me for the latest home sale statistics, market trends, and the professional guidance you can trust. My team and I work hard to ensure that our home sellers receive the information and service they deserve – along with expert marketing for top results. No matter the season, we can help you succeed!
Melinda Estridge
The Estridge Group-Long & Foster Real Estate, Inc.
Check Out Our Website
See Homes for Sale in Washington DC’s Metro Area
Contact Us
